Principles of Macroeconomics 2e
2nd Edition
ISBN: 9781947172388
Author: Steven A. Greenlaw; David Shapiro
Publisher: OpenStax
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Textbook Question
Chapter 1, Problem 9SCQ
Why might Belgium, France, Italy, and Sweden have a higher export to
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At one time, it was believed that the way for a nation to prosper was to export as much as possible while importing as little as possible. More money would flow into a country than out of a country. Is this really a sound economic strategy? What is the relationship between exports and imports?
The United States has an absolute advantage in producing sugar over all of the other sugar producing countries. Does this fact mean that we should not import any sugar from the other countries?
Which is better for a country—to export more or to import more?
Chapter 1 Solutions
Principles of Macroeconomics 2e
Ch. 1 - What is scarcity? Can you think of two causes of...Ch. 1 - Residents of the town of Smithfield like to...Ch. 1 - A consultant works for 200 per hour. She likes to...Ch. 1 - A computer systems engineer could paint his house,...Ch. 1 - What would be another example of a system in the...Ch. 1 - Suppose we extend the circular flow model to add...Ch. 1 - What is an example of a problem in the world...Ch. 1 - The chapter defines private enterprise as a...Ch. 1 - Why might Belgium, France, Italy, and Sweden have...Ch. 1 - Give the three reasons that explain why the...
Ch. 1 - What are three reasons to study economics?Ch. 1 - What is the difference between microeconomics and...Ch. 1 - What are examples of individual economic agents?Ch. 1 - What are the three main goals of macroeconomics?Ch. 1 - How did John Mayhem Keynes define economics?Ch. 1 - Are households primarily buyers or sellers in the...Ch. 1 - Are firms primarily buyers or sellers in the goods...Ch. 1 - What are the three ways that societies can...Ch. 1 - What is globalization? How do you think it might...Ch. 1 - Suppose you have a team of two workers: one is a...Ch. 1 - Why would division of labor without trade not...Ch. 1 - Can you think of any examples of free goods, that...Ch. 1 - A balanced federal budget and a balance of trade...Ch. 1 - Macroeconomics is an aggregate of what happens at...Ch. 1 - Why is it unfair or meaningless to criticize a...Ch. 1 - Suppose, as an economist, you are asked to analyze...Ch. 1 - Why do you think that most modern countries...Ch. 1 - Can you think of ways that globalization has...
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Similar questions
- Why Japan is dependent on food import?arrow_forwardThat a rich country like Germany has such a small ratio of imports to GDP as compared to Belgium is the evidence of geography. Please explainarrow_forwardIf a country produces more food and electronics than another country does it have a comparative advantage?arrow_forward
- what factors have helped the united states to become the world's leading exporter of movies, books and popular music?arrow_forwardIf the United States produces 8 automobiles and Canada produces 2 automobiles and the United States produces 8 units of lumber and Canada produces 4 units of lumber, should the U. S. trade with Canada? If so, what should be imported and what should be exported?arrow_forwardWhy do countries restrict tradearrow_forward
- If the United States produces 8 automobiles and Canada produces and Canada produces 2 automobiles, and the United States produces 8 units of lumber and Canada produces 4 units of lumber, should Canada trade with the U.S.? If so, what should be imported and what should be exported?arrow_forwardIn reference to tariffs, What is the reason that U.S. imposes tariffs? why the U.S. imposes tariffs on imports?arrow_forwardBased on Comparative advantage, what factors have helped the united states to become the world's leading exporter of movies, books and popular music?arrow_forward
- American firms outsource many jobs to other, lower cost countries. How can this outsourcing actually lead to increased employment here in the USA? How can there be any economic gains for a country from both importing and exporting the same good, like cars?arrow_forwardGhana's parliament is debating how to undertake ISI. The debate centres on whether they should impose tariffs on imports or use quotas. Which system is better for consumers?arrow_forwardIt is often asserted that the United States no longer manufactures anything, and that instead it imports manufactured goods from countries like China. Critically evaluate both sides of this argument.arrow_forward
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